GM Digest #306 — NFTX & FloorDAO Merger
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Merchant Moe Fee Sharing
• @MerchantMoe_xyz launches fee sharing starting next week
• $MOE stakers will share 100% of collected protocol revenue that will be regularly distributed in the form of mETH
• For each trade executed, a % of the swap fee is collected and shared directly with $MOE stakers. Trading revenue will be collected every few days, swapped to $mETH, and then distributed to Stakers proportionally based on their staked MOE balance
NFTX and FloorDAO Merger
• This proposal seeks to merge @NFTX_ and @FloorDAO, with support from @MeritCircle_IO, into a new project called "Project New Wind" (temporary name)
• The goal is to create a leading NFTfi platform by combining resources and expertise from both projects
• The goal is to combine the strengths of both projects to launch a new liquidity layer in Q3-Q4 2024, followed by an NFT launchpad and marketplace. Development of NFTX v3.1 and FloorDAO mainnet activities will halt to focus on the new project
• Additionally, this will consolidate liquidity, and leverage Merit Circle's expertise in marketing, branding, and governance. This collab will also provide access to GameFi projects. The aim is to replicate the success of past collaborations like @sophon
• Tokenomics of project New Wind include 50% of New Token reserved for FloorDAO and NFTX communities, based on a 2:1 ratio favoring $NFTX holders (33.3% $NFTX, 16.6% $FLOOR)
• The rest of the supply goes to Team, 20% (6-month cliff, 30-month vesting) and Treasury 30% (for platform growth, incentives, grants)
• The merger depends on approval from both NFTX and FloorDAO communities. If not approved by both, the merger won't proceed unless revised and approved later
Derivio Network
• @derivio_xyz is launching the Derivio Network, a custom blockchain designed specifically for trading applications, compatible with Solana and Ethereum
• This new network offers better scalability, performance, and cost-effectiveness for trading
• Derivio Network uses advanced cryptography (ZK+MPC/FHE) for data security and is optimized for high-stakes financial applications with native trading features and parallel execution
Silver Koi Trading Competition
• @silverkoix is announcing its second pre-release trading comp on the @plumenetwork, where participants can trade real-world asset perpetuals like gold, silver, and oil. The competition runs from May 21 till Jun 3
• Participating wins you rewards, including Silver Koi OAT NFTs and royalty points that may translate to future token airdrops
• To join the competition, create a Galxe account, follow the Galxe campaign, and ensure you have a wallet with testnet ETH
• There are three main ways to earn rewards. First, by completing daily trading tasks, such as creating limit or market orders over $10. Second, by reaching notional volume milestones, with significant points awarded for trading volumes of $1,000,000, $10,000,000, and $100,000,000. Third, by competing for top spots in volume and PnL rankings
Introducing whales.meme
• @WhalesMarket introduced whales.meme allowing users to safely launch tokens with gamified liquidity bootstrapping capabilities in just a few seconds
• Users who want to create their own memecoins can create a launchpool with near zero fees. Users can then buy/sell “eggshells” which acts as a percentage of the total token allocation. Upon TGE, when 200 eggshells are circulated, the token will be deployed and listed on DEXes
• In the coming days, the Whales Market team will be announcing the first Whales grant, deployed to incentivize whales.meme users
Sanctum Introduces wifSOL
• @sanctumso partnered with the @wifSOLofficial team to launch wifSOL, the first LST allowing users to DCA into $WIF by staking $SOL
• wifSOL will automatically swap staking rewards for $WIF every 2-3 days and distributes the $WIF directly into wifSOL holder wallets
• The wifSOL team charges a 2.5% fee on $SOL staking rewards and users will need to hold more than 0.01 $WIF to be eligible to receive $WIF
Jupiter’s Giant Unified Market Initiative
• @JupiterExchange introduces their Giant Unified Market Initiative aiming to bring all assets into a single atomic market
• Jupiter will be forming the GUM Alliance working with partners to onboard more assets onto Solana, create liquid markets for these assets and integrate those markets into Jupiter and encourage adoption
• The partners onboarded so far are @DinariGlobal, @Villcaso, @OpenEden_Labs, @wintermute_t, @DWFLabs, @SolanaFndn and @goasymmetric. The team is also actively looking for more partners and participants to join the Allicance
Misc News
• @ivx_fi announces $1.2M seed raise co-led by @AnimocaVentures and @avid3xyz
• @build_on_bob collaborates with @VelarBTC, a perp DEX launching on BOB
• @Picasso_Network Solana IBC is live
• zkSync token this week and Airdrop on 13th June
• IntentX going live in a few hours for Moby Public Sales
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*